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  • Roles of Models in Production Management

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    Arnold Acquaye
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    A model is an abstraction of a real-life thing or process that can be used to predict performance. Models provide a focus on relevant factors, allow for experimentation without cost or hazard, and enable prediction of real-life phenomena. There are different types of models including physical, graphical, pictorial, schematic, and mathematical models. Models can also be classified based on their structure as iconic, analogue, or symbolic models. Additionally, models can be descriptive and merely describe a system, or prescriptive and provide norms to maximize profit or minimize costs. Models also differ based on their environment, being either deterministic and certain or probabilistic and incorporating randomness. An example of a symbolic model provided is the economic order quantity model.

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    Roles of Models in Production Management

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    A model is an abstraction of a real-life thing or process that can be used to predict performance. Models provide a focus on relevant factors, allow for experimentation without cost or hazard, and enable prediction of real-life phenomena. There are different types of models including physical, graphical, pictorial, schematic, and mathematical models. Models can also be classified based on their structure as iconic, analogue, or symbolic models. Additionally, models can be descriptive and merely describe a system, or prescriptive and provide norms to maximize profit or minimize costs. Models also differ based on their environment, being either deterministic and certain or probabilistic and incorporating randomness. An example of a symbolic model provided is the economic order quantity model.

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    722 просмотров3 страницы

    Roles of Models in Production Management

    Загружено:

    Arnold Acquaye
    A model is an abstraction of a real-life thing or process that can be used to predict performance. Models provide a focus on relevant factors, allow for experimentation without cost or hazard, and enable prediction of real-life phenomena. There are different types of models including physical, graphical, pictorial, schematic, and mathematical models. Models can also be classified based on their structure as iconic, analogue, or symbolic models. Additionally, models can be descriptive and merely describe a system, or prescriptive and provide norms to maximize profit or minimize costs. Models also differ based on their environment, being either deterministic and certain or probabilistic and incorporating randomness. An example of a symbolic model provided is the economic order quantity model.

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    ROLES OF MODELS IN PRODUCTION MANAGEMENT

    WHAT IS A MODEL ?
    A model is an abstraction to some degree of the real life thing or process for which we
    want to predict performance.
    FEATURES OF MODELS
    MODELS PROVIDE

    a focus on relevant factors/variables

    opportunity for experimentation without undue cost/hazard

    prediction of real life phenomena

    Prediction of real life phenomena

    VARIETY OF MODELS
    PHYSICAL
    GRAPHICAL

    Wind tunnel & blade planetarium, global, structure, architects model of building
    design
    Representation of variables in 2 or 3 dimensional space. (demand history,
    population, food production, traffic intensity)

    PICTORIAL
    Visual pictures, Cartoons, Road signs
    SCHEMATIC

    Organization chart with authority relationships, information flow, current flow

    MATHEMATICAL Symbols used to represent real world situation


    SIMULATION

    An approximation of the real world generally carried out with a high speed computer

    MODELS FOR DECISION MAKING


    Based on STRUCTURE
    ICONIC

    Scaled up or scaled down versions of reality


    ( e.g. templates in layout design)

    ANALOGUE

    Substitution of one property of interest by another


    ( e.g. Mechanical & Electrical analogues)

    SYMBOLIC

    Using Mathematical symbols to establish relations


    e.g. LP, Queuing, Inventory

    MODELS FOR DECISION MAKING


    Based on PURPOSE
    DESCRIPTIVE

    Merely describe system

    PRESCRIPTIVE or
    NORMATIVE

    (Tell What to do to maximize profit,minimize cost)


    Hence a NORM or OBJECTIVE FUNCTION IS NEEDED

    Based on ENVIRONMENT
    DETERMINISTIC

    Certainty assumed

    PROBABILISTIC

    Randomness assumed

    EXAMPLES OF SYMBOLIC MODELS

    where
    d : annual demand
    Co : Cost of ordering/ order
    C : item cost
    i : Inventory carrying cost rate
    EOQ : Economic order quantity
    (this minimises the total annual inventory related costs).

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